The rapid adoption of blockchain in African finance markets

Blockchain technology is a distributed ledger that records transactions across many computers simultaneously. It was created in 2008 by Satoshi Nakamoto and first appeared in Bitcoin. Since then, blockchain technology has been adopted by various industries including finance, healthcare, real estate, and government.

In 2018, the World Economic Forum (WEF) declared that blockchain technology would become the backbone of the internet of things (IoT). Blockchain technology is a decentralized database system that uses cryptography to secure data records and this decentralization and security of data are exactly what Africa needs.

Coins predicted to boost the African market economy

Bitcoin is the first cryptocurrency ever created. They were designed to work without any central authority, such as banks or governments. These coins are issued and managed digitally, and independent of any government or central bank. There is a finite number of bitcoins that will ever exist, and they continue to be generated at a rate of about four per second.
Ethereum is a decentralized platform that runs smart contracts and enables developers to build Dapps. Developers use Solidity, a programming language that mixes elements of object-oriented and procedural languages. It supports intuitive event handling using variables, arrays, and functions.
Ripple is a real-time gross settlement system based on open-source software. OpenLedger is a peer-to-peer exchange where you can deposit money through any major banking app, withdraw funds using your OpenLedger wallet, and trade between cryptocurrencies. You can send cross-border remittances to over 200 countries.
EOS is a blockchain-based operating system. Block.one produces the EOS software and technical support services. Block.one CTO Dan Larimer founded the Bitcointalk forum back in 2011. On 21 April 2014, EOS released their alpha version, named ICN. In September 2017, EOS achieved the main net launch.
Tron is a next-generation blockchain application platform. Justin Sun acquired the project in June 2016. Tron aims to become a user-friendly blockchain with low fees, fast transactions, and high scalability.
Stellar is a blockchain protocol developed by IBM and MIT. It’s a distributed computing framework for sending payments. By cutting out middlemen, it cuts costs and speeds up transaction times.

Many African countries are beginning to recognize and adopt these coins as exchange worthy. The value continues to increase and everyone should tap into this growing opportunity. With platforms like Bitpapa, African traders now have direct access to new coins. The platform is Safe, Fast, and Easy to use.